N L Macdonald Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC047694 (Scotland)

N L MACDONALD LTD

Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N L Macdonald

A M Macdonald

SECRETARY:

N L Macdonald

REGISTERED OFFICE:

64/67 Bayhead

Stornoway

Isle of Lewis

HS1 2DZ

REGISTERED NUMBER:

SC047694 (Scotland)

ACCOUNTANTS:

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

FIXED ASSETS

Tangible assets

5

1,856,963

1,924,520

Investments

6

62,472

-

1,919,435

1,924,520

CURRENT ASSETS

Stocks

226,941

249,523

Debtors

7

63,983

87,332

Prepayments and accrued income

15,881

13,362

Cash at bank and in hand

360,353

288,519

667,158

638,736

CREDITORS

Amounts falling due within one year

8

415,290

486,097

NET CURRENT ASSETS

251,868

152,639

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,171,303

2,077,159

CREDITORS

Amounts falling due after more than one
year

9

106,560

126,899

NET ASSETS

2,064,743

1,950,260

CAPITAL AND RESERVES

Called up share capital

200

Capital redemption reserve

400

Retained earnings

2,064,143

1,949,660

SHAREHOLDERS' FUNDS

2,064,743

1,950,260

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2025 and were signed on its behalf by:

A M Macdonald - Director

1.	STATUTORY INFORMATION

N L Macdonald Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The financial statements are rounded to the nearest £1.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the sale of petroleum and goods from the forecourt shop in the period, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% depreciation on cost

Leasehold

-

5% depreciation on cost

Plant and machinery

-

15% depreciation on cost

Computer equipment

-

25% depreciation on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 35 ) .

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Computer

property

Leasehold

machinery

equipment

Totals

£

COST

At 1 January 2024

2,259,999

167,316

699,027

26,078

3,152,420

Additions

8,714

-

1,575

10,667

20,956

At 31 December 2024

2,268,713

167,316

700,602

36,745

3,173,376

DEPRECIATION

At 1 January 2024

565,707

167,316

470,831

24,046

1,227,900

Charge for year

45,374

-

41,285

1,854

88,513

At 31 December 2024

611,081

167,316

512,116

25,900

1,316,413

NET BOOK VALUE

At 31 December 2024

1,657,632

-

188,486

10,845

1,856,963

At 31 December 2023

1,694,292

-

228,196

2,032

1,924,520

Included in cost of land and buildings is freehold land of £ 402,836 (2023 - £ 402,836 ) which is not depreciated.

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

62,472

At 31 December 2024

62,472

NET BOOK VALUE

At 31 December 2024

62,472

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

52,492

77,075

Other debtors

11,491

10,257

63,983

87,332

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

8,300

Trade creditors

185,511

282,586

Corporation Tax

94,095

49,354

Wages arrestment

-

93

VAT

34,729

21,134

Other creditors

9,501

Other taxes & social security

13,930

11,781

Pay Point control account

6,954

8,229

Vouchers liability

6,620

17,608

Accrued charges

55,650

77,511

415,290

486,097

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans - 1-2 years

8,300

Bank loans - 2-5 years

24,900

Bank loans more 5 yr by instal

11,062

19,361

Directors' loan accounts

62,298

74,338

106,560

126,899

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

11,062

19,361

10.	RELATED PARTY DISCLOSURES

The company paid rent of £24,000 (2023: £24,000) during the year to N L Macdonald. N L Macdonald is a director of, and a shareholder in, the company.

Creditors includes loans from directors of £62,298 (2023: £74,338). There are no repayment terms in place and no interest is being charged on the outstanding balance.

11.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.